Is it standard practice for searchers to sign an LOI and then go look for the money?

May 23, 2025
by an intermediary in Oshkosh, WI, USA
I plan on selling my promotional products ecommerce business in the near future and have been reading a number of the posts on Searcher. It seems that a number of people don't have the money lined up before they sign an LOI. If this is the case, wonder how often a deal falls through because the funds can't be raised.
And as a seller, how can I be sure there is money behind the LOI and it's not a waste of time?
from The University of Michigan in Bonita Springs, FL, USA
from Syracuse University in Leominster, MA, USA